6 Steps To Keep Pace With The Omnichannel Consumer

Today’s consumers are jumping from one channel to another to browse and buy. As a result, these savvy shoppers are demanding more unified retail experiences, and expect inventory, pricing, offers and marketing messages to be consistent across all channels.

To keep pace with empowered consumers, retailers must transition to omnichannel operations. During the webinar, titled: 6 Steps To Keep Pace With The Omnichannel Consumer, Heidi Chapnick, CEO of Channalysis, will discuss the key challenges retailers face as their customers become more educated and hyper-connected. Chapnick also will share her blueprint for creating a winning omnichannel strategy.

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Technology Invades The Shopping Experience Nearly of consumers use some of shoppers use three or type of technology when more technologies while they shop. shopping. Source: Winning Over the Empowered Consumer: Why Trust Ma5ers, IBM #omnichannel

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Social Media Facilitates More Eﬃcient Shopping of shoppers believe they can save Lme by using social media recommendaLons to help them make purchasing decisions. Source: Winning Over the Empowered Consumer: Why Trust Ma5ers, IBM #omnichannel

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The Omnichannel Retail Leader Macy’s, Saks and other leading retailers are assigning senior management to Omnichannel Ltles. Keith Campbell, SVP of Merchandise Planning for Saks, has been named Group SVP for Merchandise Planning. He will: “lead the omnichannel vision for merchandise planning and allocaLon to maximize inventory across channels and drive proﬁtable volume growth.” Source: Saks Chairman and CEO Stephen Sadove, in a Women’s Wear Daily arLcle #omnichannel

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Let’s Hear From The Experts “C-­‐level execuLves are saying ‘omnichannel’ and using it in their vocabulary, but they really don’t “It is no longer eﬃcient to leverage know how to truly achieve disparate prices, products and omnichannel,” Chapnick said. “They policies. I dont think you can draw don’t realize that they need to those lines around channels change their infrastructure and get anymore because it alters the the right skill sets in place to obtain customer experience.” a single, cohesive view of all content and commerce across all -­‐ Larry Freed, Foresee Results channels.” -­‐ Heidi Chapnick, Channalysis #omnichannel

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OMNI Channel Six Steps To Success From Cross Channel to MulL Channel to Omni Channel … the ‘buzz’ word may change, but it is all about INTEROPERABILITY Heidi Chapnick/Retail TouchPoints 11

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Execu:ve Engagement In rowing, if everyone is not aligned to the same direcLon, you’ll be oﬀ course quickly The fundamental pillar of pivoLng towards success is to have ALL employees operaLng in unison, based on the strategy set by the execu:ve team Do you Have Execu:ve Alignment In Your Organiza:on For OMNI? q Does the mission and vision statement of your enterprise menLon diﬀerent channels? q Are the corporate goals and bonus structures focused on OMNI? q Do you have a fully integrated work stream or are you siloed by funcLon or department? q Do you need to restructure your organizaLon for success? DO IT q Does your cap-­‐ex funding and resources reﬂect the future of OMNI capabiliLes? Heidi Chapnick/Retail TouchPoints 13

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The Science of ROI & Analy:cs If every decision is not based on data, you are in trouble. How are you using data? q What analyLc programs are you using to capture data? q Do you have an analyLcs team? q How do you know what good looks like? q Do you have a single view of the customer data between all channels? q What acLons are you taking based on your data? q How are you measuring changes? Do You Know How To Use The Data? q Needs assessment – next criLcal step q External landscape analysis by channel q Create acLonable steps to use data to drive decisions Heidi Chapnick/Retail TouchPoints 14

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IT Engagement Modeling Invest in the integra:on of your backend to create a single view of the customer across all systems Are All Of Your Systems Integrated Across All Touch Points? q How are IT work eﬀorts prioriLzed? q Be transparent -­‐ ImplementaLon and IntegraLon should not be ‘dirty’ words q Invest in the integraLon of your back end. Customer service, databases and storage of customer informaLon q Balance high ROI iniLaLves with customer demands (which may have lower ROI) and prioriLze phased implementaLons Create Governance Processes q Become a collaboraLve team with intense focus on process ,procedure and approvals q Collaborate and develop a roadmap that outlines key prioriLes across the enterprise q Manage what you create (you may need internal or external resources) Heidi Chapnick/Retail TouchPoints 15

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Opera:onal Execu:on / Employee Engagement Opera:onal Execu:on: q Strategy is already set … now land the dismount with perfect execuLon q Failure to execute will dilute results q How are you measuring and monitoring progress? Employee Engagement: q Do you have the right talent in place? q Provide support and on-­‐going training to stay on top of changing landscape q Engage all channels to support OMNI q Create OMNI channel goals across the enterprise q Develop incenLve programs that focus on OMNI channel iniLaLves and results Heidi Chapnick/Retail TouchPoints 16

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Marke:ng Develop marke:ng plans that are fully integrated across all channels Marke:ng Ini:a:ves: q Do you start with the customer needs ﬁrst and then develop your markeLng strategy? q It’s all about relevance to the customer. Are you using data to make your markeLng relevant? q Stop worrying about what budget the money is coming from for each iniLaLve; rather build a holisLc and shared budget which encompasses all channels q The channel is up to the customer, but they need to know that you support all channels equally and with the same value q Cross funcLonal teams – break down the siloes q Ensure that markeLng materials focus on the brand, not the channel q How many email lists do you have? How many databases house customer informaLon? Evaluate your markeLng iniLaLves by enterprise goals, not speciﬁc channel goals. Keep speciﬁc channel goals, but also have goals and objecLves that cross departments. Heidi Chapnick/Retail TouchPoints 17

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Customer Centricity Is the customer at the center of everything you do? What Do Customers Really Desire? q It’s all about convenience! Customers demand to interact with your brands in mulLple channels q Integrate customer service across channels .. FULLY q Need a single view of the customer across channels -­‐ the holy grail q Engage your customers in every channel they encounter your brand q Integrate Voice Of Customer tools (Customer Feedback, RecommendaLons, Social Media, RaLngs and Reviews, Store Heat Mapping) q Use customer data to build your roadmap and future funcLonality Heidi Chapnick/Retail TouchPoints 18

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Wrap Up Ask Yourself … q Do I have the right execuLve engagement and alignment and direcLon and am I invesLng in the evoluLon of an OMNI channel enterprise? q Are we basing our prioriLzaLon and roadmap and other decisions on data? q Are all of our IT platorms integrated to provide a single view of the customer? q Am I ﬂawlessly execuLng the strategy and engaging all employees? q Do I have a fully integrated markeLng strategy across all channels? q Have I developed a customer centric enterprise? Heidi Chapnick/Retail TouchPoints 19